Tax as first charge on property creates government priority for recovery, subject to insolvency law exception. Tax liabilities, including tax, interest and penalty, constitute a first charge on the taxable person's property, taking priority over any other law, except as otherwise provided under the Insolvency and Bankruptcy Code, 2016.
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Provisions expressly mentioned in the judgment/order text.
Tax as first charge on property creates government priority for recovery, subject to insolvency law exception.
Tax liabilities, including tax, interest and penalty, constitute a first charge on the taxable person's property, taking priority over any other law, except as otherwise provided under the Insolvency and Bankruptcy Code, 2016.
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